VinFast begins trading on Nasdaq
VinFast business combination with Black Spade was approved at an extraordinary general meeting of Black Spade’s shareholders on August 10.
Vietnamese electric vehicle maker VinFast’s ordinary shares and warrants to begin trading on the Nasdaq on August 15, under ticker symbols “VFS” and “VFSWW,” respectively.
|VinFast Auto Ltd. is now the listed company. Photo: Vingroup|
VinFast Auto Ltd. (VinFast) and Black Spade Acquisition Co (Black Spade) announced on August 14 the completion of their previously announced business combination. As a result of this merger, VinFast Auto Ltd. is now the listed company.
The announcement of the completion of the business combination follows the approval of the transaction by Black Spade's shareholders on August 10. As a result of the merger, Black Spade has become a wholly owned subsidiary of VinFast and is expected to be delisted from the NYSE American LLC.
Thuy Le, Global CEO of VinFast Auto Ltd., said: “Becoming a US-listed company marks a significant milestone in VinFast’s global expansion. More than just a transaction on the stock market, going public reflects a powerful vote of confidence in our vision and potential. It fulfills our pledge to make smart, safe and environmentally friendly electric vehicles accessible to everyone. I sincerely appreciate the wonderful collaboration with Black Spade as our respected partners who are joining us in our ‘boundless together’ journey towards a greener future for us and future generations.”
Dennis Tam, Chairman and Co-CEO, Black Spade Acquisition Co, shared: “We are very pleased to announce the successful completion of the business combination with VinFast, an exceptionally fast-growing and scalable company in the electric vehicle (EV) sector.”
He added VinFast has developed an engaging array of smart, safe, and eco-friendly EV models. We are confident that VinFast will maintain its commitment to offering high-quality products and outstanding after-sales services.
He underlined: “A listing on the Nasdaq will enhance VinFast’s global outreach by facilitating even wider access to capital. Driven by a shared aspiration to shape a better future through innovation, we anticipate our collaboration with VinFast to bring about a fresh chapter of sustainable mobility.”
- Global minimum tax set to take effect in Vietnam in 2024
- Vietnam’s local bond market hits US$109 billion: ADB
- Vietnam not a currency manipulator, says US Treasury
- ADB, SBV joint efforts to support digital banking in Vietnam
- Hanoi Cashless Streets to foster digital transactions
- Vietnamese Government considers extending VAT reduction to mid-2024
- The Green Economy Forum 2023 to take place in November
- Greening finance accelerates Vietnam's SDG implementation
- DHL Express partners with ACB to cut carbon emissions using sustainable aviation fuel
- Vietnam joins the ASEAN Regional Payment Connectivity
Brand positioning of Hanoi as regional creative city
Vietnam news in brief - November 30
Quan Chuong Gate brings Hanoi to life with 25 visual art performances
Data mining drives smart city building: vice chairman
Planning essential to promote smart city development
Amended Capital Law to develop Hanoi’s cultural industries
Vietnam advised to use cultural heritage as material for creative industries
Hanoi, British cities exchange experience in branding Creative City
Giang Vo military school weapons on display for first time